WASHINGTON: The United States government has expressed its support for Pakistan’s efforts to achieve economic sustainability, according to State Department spokesperson Ned Price.
In a press briefing, Price acknowledged Pakistan’s ongoing negotiations with the International Monetary Fund (IMF) and other global financial institutions. “We want to see Pakistan in an economically sustainable position,” said Price.
“We are supportive where we can be of our Pakistani partners, but ultimately these are conversations between Pakistan and international financial institutions.”
He also noted the US government is closely monitoring Pakistan’s dwindling foreign exchange reserves, which he described as a “challenge.”
The comments come a day after the State Bank of Pakistan (SBP) governor, Jameel Ahmad, said the nation will see dollar inflows in the coming days after funding commitments from the Middle East, a move that could bolster finances for the cash-strapped government, according to a Bloomberg report.
The central bank’s biggest strain is limited resources, Ahmad said at an event hosted by the Karachi Chamber of Commerce and Industry (KCCI). He also said the central bank used to intervene in the interbank market in the past but it is not in a position anymore because of dwindling reserves.
